Ver Angola

Banking and Insurance

BNA: credit to the real economy grows 17.81 percent in March

Commercial banks granted credit to the real economy at a global value of 247.96 billion kwanzas in March, an increase of 17.81 percent over February, the central bank announced.

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The National Bank of Angola (BNA) says, in a statement, that at the end of March 2021 there was an accumulation of 213 approved projects, of which 2160 with disbursed resources, that is, a growth of 38 new loans with actual disbursements " compared to February.

The total credit granted in March represents an increase of 37.48 billion kwanzas (17.81 percent) in relation to the amount disbursed in February.

According to the BNA, which indicates the degree of compliance with Notice no. 10/20, the projects to be disbursed, in a total of 53, correspond to 99.81 billion kwanzas, an increase of three projects in relation to the previous month.

For the central bank, this represents an increase of 4.44 billion kwanzas (4.66 percent) in terms of financial value.

According to the BNA, as a whole, until March 2021, the banking sector disbursed 247.96 billion kwanzas, corresponding to 139.28 percent of the minimum amount to be granted until April 2021, within the scope of said notice.

The number of banks that fulfilled the minimum limit of 2.50 percent of their net assets, by the end of April 2021, increased from 13 to 15 in relation to February 2021.

These are the Atlântico, Caixa Geral Angola (BCGA), Comercial do Huambo (BCH), Fomento Angola (BFA), Standard Bank Angola (SBA), International Business (BNI), BOCLB, Prestígio (BPG), Valor banks (BVB), Finibanco (FNB), KEVE, Rural Investment (BIR), YETU, VTB and Micro Finance (BMF).

The banks BNI and YETU "have already reached the minimum number of projects to be financed", he says.